Secrets In Applying Chart Reading Correctly To Day Trading
By Lawrence
Due to the many limitations day trading has, a day trader cannot apply chart reading the same way like a swing trader whose primary timeframe is daily or weekly level. Many beginner day traders make the mistake of analyzing their charts using all kinds of tools provided by their trading platforms which pushes themselves towards analysis paralysis. Good day traders do not waste their energy this way. The proper approach to day trading with chart reading is not this messy at all.
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Comments
Thanks for this post LC.
When you say:
“One thing a day trader must remember is that for majority of financial markets, majority of the participants are not day trading these markets.”
I’ve heard people say this many times over the years.
– is there any current day evidence that supports this?
– I assume you are referring to trade volume?
– do you know any way we can measure this for ourselves on a variety of markets?
With thanks,
MK
All important turning points in the major markets are still STOPD levels in weekly and above. They can only be created by players of those timeframes and capacities.